Word: peakes
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Dates: during 1950-1959
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Today in 1951, as Donald Kirk David rounds out his tenth year as dean, the Harvard School of Business Administration finds itself simultaneously at the peak of its nation-wide prestige and at the height of its financial wealth...
Behind the massive, grimy walls of the Toronto Stock Exchange last week, the quotations flashing across an .illuminated screen spelled out record news. The key index of 20 industrial securities jumped to a high of 347.55-well above the peak of 338.62 reached during last winter's bull market and by far the highest reading since the index was established...
Died. Robert Walker, 32, boyish cinemactor (Strangers on a Train; See Here, Private Hargrove), at the peak of a successful screen comeback after an emotional crackup and widely publicized alcoholic escapades; of respiratory failure, after a doctor had given him a dose of sodium amytal to quiet an emotional upset; in Hollywood. Born in Salt Lake City (where his father edited the Deseret News), Walker went off to theatrical school in New York, there met Phyllis Isley, married her, lived in artistic poverty while appearing in Greenwich Village theatricals. In 1943, both got big breaks in Hollywood-he in Bataan...
Different Standards. Despite its long climb, the market is still not as high as it looks. In prices, it is getting within long-range shooting distance of 1929's Himalayan peak (381.17). But sales and earnings have so far outstripped 1929's that comparisons with 1929 prices are no longer valid...
...example, General Electric, at the peak of the 1929 boom, sold for 101 (adjusted for stock splits), which was 43 times its earnings. Last week it closed at 595/8 (60% of its 1929 price), which was a mere 12 times its earnings. In most cases, industry's sales and profits have kept pace with the rising stock prices. Thus, despite a 65% gain in the industrial average since mid-1949, the ratio of prices to earnings is only about 20% higher now than it was two years...